Signet Financial Management LLC Lowers Holdings in Visa Inc. (NYSE:V)

Signet Financial Management LLC trimmed its holdings in Visa Inc. (NYSE:V) by 3.9% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 14,552 shares of the credit-card processor’s stock after selling 593 shares during the period. Signet Financial Management LLC’s holdings in Visa were worth $4,061,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Nadler Financial Group Inc. boosted its position in shares of Visa by 2.4% during the fourth quarter. Nadler Financial Group Inc. now owns 1,900 shares of the credit-card processor’s stock worth $495,000 after buying an additional 44 shares during the period. Towerpoint Wealth LLC acquired a new stake in shares of Visa in the fourth quarter valued at $216,000. Andrew Hill Investment Advisors Inc. acquired a new stake in shares of Visa in the fourth quarter valued at $3,427,000. Richelieu Gestion SA acquired a new stake in shares of Visa in the fourth quarter valued at $307,000. Finally, Cooper Financial Group raised its stake in shares of Visa by 6.4% in the fourth quarter. Cooper Financial Group now owns 7,926 shares of the credit-card processor’s stock valued at $2,064,000 after acquiring an additional 476 shares in the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 8,200 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $280.36, for a total value of $2,298,952.00. Following the completion of the transaction, the chief executive officer now directly owns 538 shares in the company, valued at approximately $150,833.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Lloyd Carney sold 909 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $275.55, for a total transaction of $250,474.95. Following the completion of the sale, the director now directly owns 2,591 shares of the company’s stock, valued at approximately $713,950.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 8,200 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $150,833.68. The disclosure for this sale can be found here. Insiders sold 34,402 shares of company stock worth $9,559,382 in the last ninety days. Insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. UBS Group increased their price objective on Visa from $315.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Wells Fargo & Company increased their price objective on Visa from $300.00 to $325.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. Royal Bank of Canada raised their price target on Visa from $309.00 to $315.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Oppenheimer raised their price target on Visa from $297.00 to $299.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Finally, Wedbush raised their price target on Visa from $280.00 to $300.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Five analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $303.56.

Visa Price Performance

V stock opened at $266.62 on Friday. The firm has a 50 day moving average of $274.13 and a 200-day moving average of $273.41. Visa Inc. has a 12-month low of $226.02 and a 12-month high of $290.96. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.53. The company has a market cap of $487.63 billion, a price-to-earnings ratio of 29.79, a PEG ratio of 1.87 and a beta of 0.97.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.43 by $0.08. Visa had a return on equity of 51.23% and a net margin of 53.87%. The firm had revenue of $8.78 billion during the quarter, compared to the consensus estimate of $8.62 billion. During the same period in the previous year, the firm posted $2.09 EPS. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. As a group, equities analysts expect that Visa Inc. will post 9.94 EPS for the current fiscal year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Friday, May 17th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $2.08 annualized dividend and a dividend yield of 0.78%. Visa’s dividend payout ratio is currently 23.24%.

Visa Company Profile

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.